It seems a little bizarre to describe a company generating quarterly revenue of $17.37 billion as one in transition.

Nonetheless, what commentators have billed as the 'flat performance' of Windows 7 and Windows Phone's no-show in the firm's Q1 2012 report suggest the Redmond giant is keen to look forward to successes to come, rather than focus attention on its current operations.

Either way, Microsoft puts the figure – which represents a record for a first-quarter at the firm and a 7 percent rise year-on-year – down to the success of Xbox 360, accessory Kinect, and Microsoft's suite of business software.

Countdown to Christmas

In comparison, said CCO Kevin Turner, Windows Phone is a product for the future,  with the company citing the run-up to Christmas – and the launch of new Nokia devices – as the platform's first real test.

"With a great set of consumer products like Windows 7 PCs, Windows Phone 7.5, Xbox and Kinect, we are excited about the holiday buying season," commented Turner.

Microsoft's operating income for the quarter came in at $7.20 billion, with net income hitting $5.74 billion, both up year-on-year 1 percent and 6 percent respectively.

"We saw customer demand across the breadth of our products, resulting in record first-quarter revenue and another quarter of solid EPS growth," added CFO Peter Klein.

"Our product portfolio is performing well, and we’ve got an impressive pipeline of products and services that positions us well for future growth."

In comparison, rival Apple's revenues for the firm's most recent quarter came in at $28.27 billion, with net profits hitting $6.62 billion.

[source: Microsoft]